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‘America First?’: Stephanie Ruhle slams Trump’s $20 billion Argentina bailout

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‘America First?’: Stephanie Ruhle slams Trump’s $20 billion Argentina bailout

The Trump administration has now finalized plans to deliver Argentina a financial lifeline. On Thursday, Treasury Secretary Scott Bessent announced that the United States had directly purchased Argentine pesos as part of a $20 billion currency swap with the country’s central bank.

Bessent has repeatedly insisted that the deal with Argentina and its president, Javier Milei (a close ally of Donald Trump)does not amount to a bailout. But, according to Stephanie Ruhle, “downplaying it as merely a swap agreement, exchanging pesos for dollars to stabilize their economy” is “not the full picture.”

“We might not be writing a direct $20 billion check to Argentina,” she explained on “11th Hour” Thursday evening, “but we are still taking enormous risk to help out a friend of the president who’s up for re-election in a country that’s in trouble.”

Ruhle described the deal as a “massive loan” on behalf of the U.S. — and one that comes with a lot of risk. “If Argentina does default — and they may — it is a $20 billion loss for us. The Fed will be left holding a ginormous bag of pesos worth nothing.”

The BLN host said you could either call the deal “a hidden bailout, or direct bailout,” but that it was undeniably “a huge win for Argentina, its president and the group of U.S. investors Secretary Bessent knows very well, who bet big on Argentina.”

Ruhle told viewers to keep in mind what else is going on in the United States as the administration closes this $20 billion deal. “This is happening while the U.S. government is shut down, thousands of furloughed federal workers are not getting their paychecks this week.”

“So when we hear about ‘America First,’ know this,” she explained. “‘America First,’ in this instance, is the investor class. That right there is the full picture.”

You can watch Ruhle’s full analysis in the clip at the top of the page.

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Labor Secretary Lori Chavez-DeRemer is leaving Trump’s Cabinet

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Labor Secretary Lori Chavez-DeRemer is leaving Trump’s Cabinet

WASHINGTON (AP) — Labor Secretary Lori Chavez-DeRemer is out of President Donald Trump’s Cabinet, the White House said Monday, after multiple allegations of abusing her position’s power, including having an affair with a subordinate and drinking alcohol on the job.

Chavez-DeRemer is the third Trump Cabinet member to leave her post after Trump fired his embattled Homeland Security Secretary Kristi Noem in March and ousted Attorney General Pam Bondi earlier this month.

In a statement posted on social media, Chavez-DeRemer praised Trump and wrote, “I am proud that we made significant progress in advancing President Trump’s mission to bridge the gap between business and labor and always put the American worker first.”

Unlike other recent Cabinet departures, Chavez-DeRemer’s exit was announced by a White House aide, not by the president on his social media account.

“Labor Secretary Lori Chavez-DeRemer will be leaving the Administration to take a position in the private sector,” White House communications director Steven Cheung said on the social media site X. “She has done a phenomenal job in her role by protecting American workers, enacting fair labor practices, and helping Americans gain additional skills to improve their lives.”

He said Keith Sonderling, the current deputy labor secretary, would become acting labor secretary in her place. The news outlet NOTUS was the first to report Chavez-DeRemer’s resignation.

Labor chief, family members faced multiple allegations

Chavez-DeRemer’s departure follows reports that began surfacing in January that she was under a series of investigations.

A New York Times report last Wednesday revealed that the Labor Department’s inspector general was reviewing material showing Chavez-DeRemer and her top aides and family members routinely sent personal messages and requests to young staff members.

Chavez-DeRemer’s husband and father exchanged text messages with young female staff members, according to the newspaper. Some of the staffers were instructed by the secretary and her former deputy chief of staff to “pay attention” to her family, people familiar with the investigation told the Times.

Those messages were uncovered as part of a broader investigation of Chavez-DeRemer’s leadership that began after the New York Post reported in January that a complaint filed with the Labor Department’s inspector general accused Chavez-DeRemer of a relationship with the subordinate.

She also faced allegations that she drank alcohol on the job and that she tasked aides to plan official trips for primarily personal reasons.

Late Monday, on her personal X account, Chavez-DeRemer posted, “The allegations against me, my family, and my team have been peddled by high-ranked deep state actors who have been coordinating with the one-sided news media and continue to undermine President Trump’s mission.”

Both the White House and the Labor Department initially said the reports of wrongdoing were baseless. But the official denials got less full-throated as more allegations emerged — and when Chavez-DeRemer might be out of a job became something of an open question in Washington.

At least four Labor Department officials have already been forced from their jobs as the investigation progressed, including Chavez-DeRemer’s former chief of staff and deputy chief of staff, as well as a member of her security detail, with whom she was accused of having the affair, The New York Times reported.

“I think the secretary demonstrated a lot of wisdom in resigning,” Sen. John Kennedy, R-La., said Monday after her departure was made public.

She enjoyed union support — rare for a Republican

Confirmed to Trump’s Cabinet on a 67-32 vote in March 2025, Chavez-DeRemer is a former House GOP lawmaker who had represented a swing district in Oregon. She enjoyed unusual support from unions as a Republican but lost reelection in November 2024.

In her single term in Congress, Chavez-DeRemer backed legislation that would make it easier to unionize on a federal level, as well as a separate bill aimed at protecting Social Security benefits for public-sector employees.

Some prominent labor unions, including the International Brotherhood of Teamsters, backed Chavez-DeRemer, who is a daughter of a Teamster, for Labor Secretary. Trump’s decision to pick her was viewed by some political observers as a way to appeal to voters who are members of or affiliated with labor organizations.

But other powerful labor leaders were skeptical when she was tapped for the job, unconvinced that Chavez-DeRemer would pursue a union-friendly agenda as a part of the incoming GOP administration. In her Senate confirmation hearing, some senators questioned whether she would be able to uphold that reputation in an administration that fired thousands of federal employees.

She was a key figure in Trump’s deregulatory push

Aside from reports of wrongdoing in recent months, Chavez-DeRemer had been one of Trump’s more lower-profile Cabinet picks, but took key steps to advance the administration’s deregulatory agenda during her tenure.

For instance, the Labor Department last year moved to rewrite or repeal more than 60 workplace regulations it saw as obsolete. The rollbacks included minimum wage requirements for home health care workers and people with disabilities, and rules governing exposure to harmful substances and safety procedures at mines. The effort drew condemnation from union leaders and workplace safety experts.

The proposed changes also included eliminating a requirement that employers provide adequate lighting for construction sites and seat belts for agriculture workers in most employer-provided transportation.

During Chavez-DeRemer’s tenure, the Trump administration canceled millions of dollars in international grants that a Labor Department division administered to combat child labor and slave labor around the worldending their work that had helped reduce the number of child laborers worldwide by 78 million over the last two decades.

In her statement Monday, Chavez-DeRemer said, “While my time serving in the Administration comes to a conclusion, it doesn’t mean I will stop fighting for American workers.”

The Labor Department has a broad mandate as it relates to the U.S. workforce, including reporting the U.S. unemployment rate, regulating workplace health and safety standards, investigating minimum wage, child labor and overtime pay disputes, and applying laws on union organizing and unlawful terminations.

___

Associated Press writers Steven Sloan and Will Weissert in Washington and Cathy Bussewitz in New York contributed to this report.

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The Latest: US Navy seizure of Iranian ship casts doubt on fresh talks in Pakistan

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The Latest: US Navy seizure of Iranian ship casts doubt on fresh talks in Pakistan

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GOP’s Mills faces expulsion effort launched by one of his Republican colleagues

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GOP’s Mills faces expulsion effort launched by one of his Republican colleagues

Republican Rep. Cory Mills of Florida was already dealing with multiple, overlapping scandals when a judge issued a restraining order against the congressman last fall after one of his ex-girlfriends accused him of threatening and harassing her. Soon after, Mills found that even some of his allies were keeping him at arm’s length.

In December, Rep. Byron Donalds, a fellow Florida Republican, conceded“The allegations against Cory, to me, are very troubling. I’m concerned about him. I hope he gets his stuff worked out and cleaned up, but it has to go through ethics [the Ethics Committee]. And he has to, you know, basically do that hard work to clear his name, if it can be cleared.”

Donalds, a leading gubernatorial candidate in Florida, had previously suggested he saw Mills as a possible running mate, making the comments that much more potent.

It didn’t do Mills any favors when The Washington Post published a new report a few days ago highlighting body camera footage that showed police officers in Washington, D.C., who were prepared to arrest the GOP congressman after a woman accused him of assault last year, before a lieutenant ultimately ordered them not to when she changed her account. (Mills refused to comment, except to say that the woman’s initial claim was “patently false.”)

Two days after the Post’s report reached the public, one of Mills’ Republican colleagues announced an effort to kick the congressman out of office. NBC News reported:

Rep. Nancy Mace, R-S.C., introduced a resolution Monday to expel Rep. Cory Mills, R-Fla., from Congress over accusations that include sexual misconduct.

Mills is being investigated by the House Ethics Committee in connection with allegations of ‘sexual misconduct and/or dating violence’ and campaign finance violations. He has denied any wrongdoing.

“The swamp has protected Cory Mills for far too long and we are done letting it slide,” Mace said in a statement. “We tried to censure him and strip him from his committee assignments. Both parties blocked it, but we are not backing down.”

By way of social media, the Floridian expressed confidence that he’d prevail if Mace’s resolution reached the floor, encouraging the South Carolinian to “call the vote forward.”

Time will tell whether the expulsion vote actually happens, but in the meantime, after NOTUS reported that Mills intends to respond with an expulsion resolution of his own targeting Mace, the congresswoman wrote online“Cory Mills lied about his military service, has been accused of beating women, has a restraining order against him, and has allegedly been stuffing his own pockets with federal contracts while sitting in Congress. As a survivor, I will always stand up and right the wrongs of others. He is only coming after me because he knows he’s next.”

It’s not often that Americans see members of Congress launch dueling efforts to kick each other out of office, but this is proving to be an unusually awful term.

Indeed, amid growing GOP anxieties about the upcoming midterm elections, there’s fresh evidence that the House Republican conference is both divided and unraveling.

Steve Benen is a producer for “The Rachel Maddow Show,” the editor of MaddowBlog and an MS NOW political contributor. He’s also the bestselling author of “Ministry of Truth: Democracy, Reality, and the Republicans’ War on the Recent Past.”

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